TRE filed a lawsuit against Giant Group.

The firm’s suit against Giant Group, Burt Sugarman and certain other Giant Group nominees to TRE’s board alleges material misrepresentations in Giant Group’s opposition proxy materials. Filed in the U.S. District Court for the Central District of California, the complaint charges, among other things, that Sugarman falsely and widely communicated to stockholders that TRE’s corporate overhead in fiscal 1986 increased by 34%, compared to fiscal 1985, when in fact corporate overhead actually decreased in the latest year. TRE makes, among other things, home and semiconductor products.